NELFUND Boss Rejects Financial Misappropriation Claims

The Managing Director of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyerr, has dismissed allegations of financial misappropriation within the agency, saying there is no evidence to support the claims.

Sawyerr, who spoke in an interview with ARISE NEWS, also defended NELFUND’s financial processes, saying payments to institutions and students are made electronically and can be traced.

He said NELFUND recently transferred more than N1 billion to the University of Ibadan, while students’ upkeep payments were sent directly to their bank accounts.

Sawyerr said the agency was established to provide financial support to students and that its electronic application system ensures that beneficiaries are selected based on eligibility rather than ethnicity, personal connections or other considerations.

He maintained that NELFUND’s system is designed to ensure transparency and prevent preferential treatment in the selection of beneficiaries.